Tuesday May 13, 2014 0 commentsLONGMONT - UQM Technologies Inc. (NYSE MKT: UQM) and Turkey-based Derindere Motorlu Araclar (DMA) have signed a memorandum of understanding to make UQM the supplier of electric propulsion systems to DMA for its fully-electric light commercial vehicles.
"We are excited to work with DMA, who has been a leader in electrification of vehicles in Turkey, and to add them to our expanding roster of global customers," said Eric R. Ridenour, UQM president and CEO.
"The MOU sets the stage to grow with DMA, beginning with the electric light commercial vehicle program in Turkey and potentially adding other vehicles and markets over time."
UQM said it will initially provide its PowerPhase Pro 135 electric propulsion systems to DMA vehicles.
"In addition to the power level we wanted for the all-electric light commercial vehicle program, the UQM system also provides outstanding efficiency, which helps us meet our driving range goals," said Onder Yol, DMA's CEO.
"We believe the UQM systems will allow us to meet the demanding needs of our customers."